Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Homeowners Offered Few Insurance Choices in Hurricane States
Jun 28 2010 // In most hurricane-prone states, homeowners have few choices of insurance coverage, with just eight property and casualty insurers in each state controlling up to 77.2 percent of the market share, according to Weiss...
A.M. Best: P/C Insurer Financial Impairments Triple Since 2007
Jun 25 2010 // The number of financial impairments for U.S. property/casualty (P/C) insurers have more than tripled since 2007, the last full year before the current recession, rising to 18 in 2009, up from 16 in 2008 and from five in...
Marsh Appoints Woolley and Petit-Lambotte as EMEA P/C Leaders
Jun 24 2010 // Marsh has appointed Caroline Woolley as Property Practice Leader, and Alain Petit-Lambotte as Casualty Practice Leader, for Europe, the Middle East and Africa (EMEA). A bulletin from Marsh’s London office explained...
Towers Watson Boosts Florida Operations with Betz, Stofko
Jun 24 2010 // Strengthening its presence in the Florida property/ casualty market, global professional services company Towers Watson has appointed two industry veterans with experience in the state. Robert Betz has been named practice...
P/C Insurers Return to Profitability in Q1 With $8.9B in Net Income
Jun 23 2010 // The property/casualty industry returned to profitability in the first quarter of 2010 despite continuing declines in both written premiums and earned premiums. Private U.S. property/casualty insurers’ net income...
Specialized Independence
Jun 21 2010 // Top 100 Agency Profile Agency Name: The Horton Group Inc. Headquarters: Orland Park, Ill. Year Founded: 1971 Locations: 15 2009 Total P/C Premiums: $258.3 million Commercial Lines: $221.4 million Personal Lines: $36.8...
Larson Named President, COO of Great American P/C Group
Jun 14 2010 // Donald D. Larson has been named president and chief operating officer of the Great American Property and Casualty Group and Great American Insurance Co. Larson is the 16th president in Great American’s history. He...
Commercial Insurance Prices Stay Level for 5th Straight Quarter
Jun 14 2010 // A fragile global economy, excess capacity in virtually every line of commercial insurance and last year’s below-average catastrophic losses combined to keep commercial insurance prices flat during the first quarter...
Best Sees No Change in Old Republic’s Ratings from PMA Acquisition
Jun 14 2010 // A.M. Best Co. has commented that the ratings of Chicago-based Old Republic International Corporation’s P/C, title and life operating subsidiaries are unchanged following its proposed acquisition of the outstanding...
Submit Today: Insurance Journal Top 100 Agencies
Jun 11 2010 // Insurance Journal is on the search for leading privately-held property casualty independent agencies and brokerages for its annual Top 100 Property/Casualty Independent Insurance Agencies report. Top Overall Independent...
Best Upgrades Travelers Group Issuer Credit Ratings; Revises Outlook
Jun 9 2010 // A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “aa” from “aa-” of Travelers Group, its P/C members and affiliate, Travelers Casualty and Surety Company of America (TCSA) and...
United Insurance to Write Property, Casualty in South Carolina
Jun 8 2010 // United Insurance Holdings Corp., a property and casualty insurance holding company, has announced that United Property & Casualty Insurance Company (UPC), a wholly-owned subsidiary, was approved to begin writing...
People
Jun 7 2010 // Wholesaler Crump Insurance promoted Kevin Hahn to executive vice president. As head of New York brokerage operations, Hahn will oversee Crump’s offices in Long Island and New York, and its environmental practice. XL...
People
Jun 7 2010 // Craig A. Payan has been elected to serve as chairman of the board of directors for Itasca, Ill.-based Associated Risk Managers International Inc. Payan is president of PA&T Insurance and Financial Services, an...
People
Jun 7 2010 // Louisiana Workers’ Compensation Corp. (LWCC) President and CEO Kristin W. Wall has been elected to the board of directors of NCCI Holdings Inc., a provider of workers’ compensation and employee injury data and...
Best Affirms Fairfax, U.S. Members Ratings; Upgrades Seneca’s ICR
Jun 4 2010 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Toronto-based Fairfax Financial Holdings Limited. Best also affirmed the ICR of...
P/C Trade Groups Join GNAIE in Opposing Unitary Accounting Standard
Jun 4 2010 // The Group of North American Insurance Enterprises (GNAIE), an association representing the Chief Financial Officers of major life insurance companies in Bermuda, Canada, and the United States, has joined with four other...
Insurance Journal Searches for Top 100 Agencies
Jun 3 2010 // Insurance Journal is on the search for leading privately-held property casualty independent agencies and brokerages for its annual Top 100 Property/Casualty Independent Insurance Agencies report. Top Overall Independent...
S&P Warns P/C Insurers on Reserving Practices
Jun 3 2010 // Property/casualty (P/C) insurers have turned to releasing significant amounts of reserves in the past couple of years, even as the underlying business conditions have deteriorated, but may have to slow this practice,...
Aon: P/C Insurance Rates Decrease, Capacity Continues to Increase
May 27 2010 // Property rates will continue to drop 5 percent to 15 percent for most risks, despite record global catastrophic losses seen in early 2010, according to Aon Corp.’s 2010 U.S. Insurance Market Overview. Property...
